Rejection reasons pertaining to challan details are as follows: Challan detail record on which correction has been filed does not exist in regular / previous statement In a correction statement,… Read more »
The difference between late payment and late deduction: Late payment: After the tax is deducted at source it has to be deposited into the government account by 7th of the… Read more »
The due date for deduction is either at the time of giving credit or payment of the dues, whichever is earlier. Late deduction happens in the event the tax is… Read more »
There are 6 types of corrections namely C1, C2, C3, C4, C5, C9. The following table briefly talks about each correction type: Type Corrections in: C1 Deductor details: All details… Read more »
In case the assessee deposits the TDS Payment after the due date of payment of the tax deducted at source, he shall be liable to pay interest @1.5% for every… Read more »
Steps: Request for TDS (Consolidated) file from Traces Download requested TDS (Consolidated) file from Traces Upload TDS(Consolidated) file for correction into the software Make corrections Generate the correction return Submit… Read more »
